Regulatory Alerts2024-05-09
Added
Notice FSM-N13 Technology Risk Management
The Monetary Authority of Singapore issued Notice FSM-N13 to mandate high standards for the reliability, availability, and recoverability of critical IT systems for designated payment system operators and settlement institutions. The regulation requires these entities to implement robust IT controls to protect customer information from unauthorized access or disclosure. This notice became effective on 10 May 2024 and includes specific instructions and templates for incident notification and reporting to the regulator.
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